In a significant reshuffling of government-owned enterprises, the cabinet has unveiled a series of changes aimed at streamlining operations and enhancing efficiency. The announcement was made during a press conference at the President’s office yesterday, with Economic Minister Mohammed Saeed detailing the forthcoming changes.

The government has decided to merge the Regional Airports Company Limited (RACL) with the Maldives Airports Company Limited (MACL), which manages regional airports. This merger will result in the transfer of eight additional airports to MACL, consolidating airport management under a single entity.

In another major move, discussions are underway to merge the Maldives Fund Management Corporation (MFMC) and the Business Center Corporation (BCC) into a subsidiary of the Housing Development Corporation (HDC). Despite this integration, the BCC will maintain its current operational status.

Furthermore, the cabinet has resolved to incorporate AgroNat, an entity established by the previous administration, into The Maldives Industrial Free Zone Company (MIDFC). This change is part of the government's broader strategy to optimize the industrial sector.

Another notable reform involves the merger of two key tourism companies: the Maldives Tourism Development Corporation (MTDC) and the Maldives Integrated Tourism Development Corporation (MITDC). This merger is intended to enhance and integrate tourism activities across the Maldives, streamlining efforts to boost the nation's tourism sector.

Additionally, as part of its cost-cutting and reform strategy for state-owned enterprises (SOEs), the cabinet has decided to integrate Fenaka Corporation as a subsidiary of State Trading Organization (STO). This move is aimed at improving operational efficiencies and reducing costs within the sector.